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Sonatrach and ENI ink MOU for North Africa

December 10, 2020
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Algeria’s Sonatrach and Italian oil major Eni on Thursday signed a memorandum of understanding to boost their exploration and production partnership in the key Berkine basin, the North African country’s state-owned firm said. Algeria, an OPEC member and a major gas supplier to Europe, last year approved a new energy law aimed at improving its investment climate after

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KFELS issues cancellation notice on second Awilco newbuild

December 9, 2020
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Awilco Drilling PLC (the Company) announces that its wholly owned subsidiary Awilco Rig 2 Pte. Ltd. (AR2) has today received a notice from Keppel FELS purporting to terminate the Vessel Construction Contract of the semi-submersible drilling rig Nordic Spring (“Notice”). Keppel FELS has also served AR2 with a notice of arbitration. This follows a letter from AR2 to

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Maersk lands additional work for the Integrator

December 9, 2020
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Maersk Drilling has been awarded a one-well contract from OMV (Norge) AS for the low-emission jack-up rig Maersk Integrator. In direct continuation of its previously announced work scope, the rig will drill one exploration well in the Ommadawn prospect in PL 970 offshore Norway. The contract is expected to commence in mid-2021, with an estimated duration of

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Oxy bags onshore exploration concession from ADNOC

December 9, 2020
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United Arab Emirates’ Abu Dhabi National Oil Co (ADNOC) said on Wednesday it had awarded an onshore exploration concession to Occidental Petroleum Corp. Occidental will hold a 100% stake during the exploration phase, investing up to 514 million dirhams ($140 million), including a participation fee, for oil and gas, it said in a statement. Occidental will have the right

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Whitecap Resources picks up TORC Oil and Gas for $430 million

December 9, 2020
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Canadian oil producer Whitecap Resources Inc said on Tuesday it has agreed to buy rival TORC Oil & Gas Ltd in an all-stock deal valued at about C$552 million ($430.81 million). The collapse in fuel demand due to coronavirus-related lockdowns has hammered energy companies in Canada, the fourth-largest global oil producer, triggering a wave of consolidation and cost-cuts

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Pandemic related oilfield job loss in service sector tops 91k in the United States

December 9, 2020
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The U.S. oilfield services sector lost 91,680 jobs due to pandemic-related oil demand destruction, according to a monthly a report compiled and published by trade group Petroleum Equipment & Services Association (PESA) on Tuesday. Demand for drilling services sank after oil prices collapsed earlier this year, pushing several oilfield services firms to file for bankruptcy, incur heavy losses

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Chevron Announces $14 Billion Capital and Exploratory Budget for 2021

December 4, 2020
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Chevron Corporation today announced a 2021 organic capital and exploratory spending program of $14 billion and lowered its longer-term guidance to $14 to $16 billion annually through 2025. This capital outlook will continue to prioritize investments that are expected to grow long-term value and deliver higher returns and lower carbon, including over $300 million in 2021 for

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Total meets with Libya’s NOC on rehab operations for Mabruk Oilfield

December 4, 2020
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Executives of Libya’s National Oil Corp (NOC) and French firm Total met in on Dec 1 to discuss current preparations to rehabilitate the Mabruk Oil Field which was damaged during a 2015 attack. The rehabilitation is to be fast-tracked and both owners are supporting the operator to reinstate the field and resume production. Also discussed was long-term,

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Uganda gives approval for $3.5 billion pipeline co-owned by Total and CNOOC

December 4, 2020
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Uganda has granted environmental approval for a $3.5 billion pipeline to export crude oil from western fields to the Indian Ocean coast in Tanzania, despite pressure from lobby groups. The planned pipeline, from fields co-owned by France’s Total and China’s CNOOC, would cross sensitive ecological systems including wildlife-rich areas, rivers and swampland that are catchments for Lake Victoria. International

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Denmark to end exploration in the North Sea by 2050

December 4, 2020
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Denmark’s government on Thursday agreed with a majority in parliament to put an end to all oil and gas exploration and extraction in the North Sea by 2050 as well as cancel its latest licensing round. The future of Denmark’s oil and gas operations in the North Sea has been a political issue after the Nordic country agreed

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